Find the compound interest on ₹ 3000 at the rate of 6 % per annum for 1 1 2 years compounded half- yearly.

Rate of interest = 6 % per annum = 3 % per half year, Time = 1 1 2 = 3 half years Original Principal = ₹ 3000 Interest for the first half year = ₹ 3000 × 3 × 1 100 = ₹ 90 Amount at the end of the first half year = 3000 + 90 = ₹ 3090 Principal for the second half year = ₹ 3090 Interest for the second half year = ₹ 3090 × 3 × 1 100 = ₹ 92 . 7 Amount at the end of the second half year = ₹ 3090 + 92 . 7 = ₹ 3182 . 7 Principal for the third half-year = ₹ 3182 . 7 Interest for the third half-year = 3182 . 7 × 3 × 1 100 = ₹ 95 . 481 Amount at the end of the third half-year = 3182 . 7 + 95 . 481 = ₹ 3278 . 181 Compound Interest = Amount - Principal = 3278 . 181 - 3000 = ₹ 278 . 181 Hence, the compound interest is ₹ 278 . 181

Veena borrowed ₹ 20 , 000 from a money lender at the rate of 4 % per annum for 1 1 2 years compounded half-yearly. Find the amount she has to pay at the end of 1 1 2 years.

Rate of interest = 4 % per annum = 2 % per half year, Time = 1 1 2 = 3 half years Original Principal = ₹ 20 , 000 Interest for the first half year = ₹ 20000 × 2 × 1 100 = ₹ 400 Amount at the end of the first half year = 20000 + 400 = ₹ 20400 Principal for the second half year = ₹ 20400 Interest for the second half year = ₹ 20400 × 2 × 1 100 = ₹ 408 Amount at the end of the second half year = ₹ 20400 + 408 = ₹ 20808 Principal for the third half-year = ₹ 20808 Interest for the third half-year = ₹ 20808 × 2 × 1 100 = ₹ 416 . 16 Amount at the end of the third half-year = 20808 + 416 . 16 = 21224 . 16 Hence, the amount is ₹ 21224 . 16

E M B I B E

START UP MATHEMATICS>Chapter 13 - Compound Interest>Exercise 13.1>Q 1

HARD

8th CBSE

IMPORTANT

Earn 100

Rahul invested $₹ 7000$ in shares for $2$ years at the rate of $12 %$ per annum compounded annually. What is the compound interest that Rahul gets after $2$ years?

Important Questions on Compound Interest

MEDIUM

8th CBSE

IMPORTANT

START UP MATHEMATICS>Chapter 13 - Compound Interest>Exercise 13.1>Q 2

Find the compound interest on

₹ 3000

at the rate of

6 %

per annum for

1 \frac{1}{2}

years compounded half-yearly.

MEDIUM

8th CBSE

IMPORTANT

START UP MATHEMATICS>Chapter 13 - Compound Interest>Exercise 13.1>Q 3

Veena borrowed $₹ 20, 000$ from a money lender at the rate of $4 %$ per annum for $1 \frac{1}{2}$ years compounded half-yearly. Find the amount she has to pay at the end of $1 \frac{1}{2}$ years.

MEDIUM

8th CBSE

IMPORTANT

START UP MATHEMATICS>Chapter 13 - Compound Interest>Exercise 13.1>Q 4

Find the compound interest on a sum of

₹ 12, 000

at the rate of

8 %

per annum for

1

year compounded quarterly.

HARD

8th CBSE

IMPORTANT

START UP MATHEMATICS>Chapter 13 - Compound Interest>Exercise 13.1>Q 5

Ruchi borrowed $₹ 18, 000$ from her friend at the rate of $12 %$ per annum at simple interest. She lent it further to another friend Aarti at the same rate but compounded annually. Find the profit that Ruchi earns after $2$ years.